AVS Raises $20M in Series B Funding Round


AVS, a Boston, MA-based early-stage medical device company, raised $20M in Series B funding.

The round was led by BioStar Capital.

The company intends to use the funds to accelerate clinical trial timelines for its device for peripheral application in pulsatile intravascular lithotripsy (PIVL) cases and advance development and preclinical work on a PIVL device for coronary cases.

Founded in 2018 by Hitinder Gurm, M.D., and Robert Chisena, Ph.D., Chief Technical Officer, and led by Mark Toland, Executive Chairman/CEO, AVS is an early-stage medical device company focused on safely and effectively treating severely calcified arterial disease. Its novel balloon-based platform, the PULSE™ IVL System shatters calcium with pressure waves in frequent bursts and expands calcified arteries, all with a single device. In September 2022, the company announced enrollment, treatment, and positive 30-day follow-up data of the first patients in its POWER PAD I clinical trial, a first-in-human study. Jon George, MD, MBA an interventional cardiologist at the University of Pennsylvania Health System and medical advisor to AVS, assisted in trial cases in the Dominican Republic.